Timing the Market Works for Some Pros but Is Risky for Average Joe

By
Charles Passy And
Alyssa Abkowitz

August 9, 2011

Starting a week ago, Jody Young, a managing partner of wealth-advisory firm Atlanta Capital Group, began selling his clients' equities—first European stocks, then moving to domestic small caps, and finally, mutual funds. By Thursday, when the market started to plummet, Mr. Young had moved a sizable huge chunk of the $650 million he manages out of the market, shrinking his clients' stock allocations from 60% to 25%. By his estimate, his clients saved at least $30 million.